Tax Commissioner candidate calls for ending income tax collections on Social Security benefits

(FARGO, ND – JUNE 18, 2014) – Tax Commissioner candidate Jason Astrup today called on the North Dakota Legislature to end the “Senior Citizen Tax” by enacting a tax exclusion for all Social Security recipients living in North Dakota. Astrup’s plan would provide an income tax exclusion for any portion of Social Security benefits that are taxable on the taxpayer’s federal tax return.

North Dakota is currently one of only 13 states in the country that taxes Social Security benefits received. It is estimated that North Dakota’s senior population will increase 50% by 2025. North Dakota already provides an income tax exclusion for all Railroad Retirement Board benefits received. Astrup’s Social Security benefits exclusion would be an extension of tax relief to all North Dakota retirees.

Astrup released the following statement:

“Taxing Social Security benefits received is nothing more than a Senior Citizen Tax that hits the very people who worked a lifetime contributing to our state’s prosperity. Residents are concerned about the rising cost of living and ending the Senior Citizen Tax is an innovative solution to provide real tax relief to seniors living on fixed incomes.

“Our state had almost $1.4 billion remaining in the unobligated general fund as of the last biennium. Ending the Senior Citizen Tax will cost approximately $12 million per year. Ending the tax is not a question of means; it’s a question of priorities. During the 2013 legislative session, the Republican Supermajority tried to push through a 30% reduction in the oil extraction tax that would have cost the state $1.3 billion in the first five years alone. The Republican Supermajority had no problem pushing through a corporate tax cut where 82% of the benefits go to out-of-state corporations. If we can cut corporate taxes then we can surely end the Senior Citizen Tax.

“As I have said throughout this campaign, the Tax Commissioner’s office needs to be more than just a collection and reporting agency. The Tax Commissioner must be a resource for the Legislature to provide it with policy direction and the innovative ideas that will simplify our tax system and provide tax relief to all North Dakotans.”

(END)

www.astrup4nd.com

The post Jason Astrup proposes ending the “Senior Citizen Tax” appeared first on North Dakota Democratic-NPL Party.

From: Dem-NPL News